Some car dealerships routinely make promises that they know cannot be kept. "Come back in six months" they say, "Your credit will be better and we can get you a lower payment."
The subprime auto loan market is surging, and electronic repossessions are also on the rise. An article in the New York Times states that electronic disabling devices have been installed in two million vehicles. Lenders can activate these devices remotely, and they will disable the vehicle so that it will not start. Once disabled, the car is stuck.
An article in today's New York Times discusses the increase in subprime mortgage lending. As the article points out, although most of the really bad mortgages that caused the financial crisis were subprime loans, not all subprime loans are bad. People with less than "A" grade credit should be able to get a home loan, too. The real problems arise when lendors deceive consumers regarding loan terms, gouge them on pricing, or set them up for loans that they can never repay. That is the difference between subprime lending and predatory lending.